Guernsey Next Generation Mortgage

On fixed rate mortgages, lump sum payments of up to 10% may be made early without charge each year. For the purposes of this calculation, a year is defined as starting on the commencement of the loan and on the anniversary thereafter; the amount is up to 10% of the balance outstanding on that date. This facility cannot be rolled over into subsequent years if the facility is not used in any one year.

Product fees are non-refundable and must be paid on application.  Our mortgage products can be withdrawn at very short notice.

The Next Generation Mortgage is a mortgage facility that is backed by a guarantor which you must be able to provide. The guarantor must be a family member who owns their own home. 

Once you are in a position to provide a guarantor, we will be able to carry out an affordability assessment on you to determine your maximum borrowing capacity.  This is usually done in an appointment with one of our mortgage associates. They will discuss your circumstances, ingoings and outgoings and enter this information into our affordability calculator.  Once complete, the calculator will generate your maximum borrowing capacity.  Single applicants must earn a minimum of £30k per annum, while joint applicants must earn a minimum of £40k per annum collectively.

The Mortgage Associate will also be able to offer an idea of what level of savings are required to cover the advocate fees, bond fees, document duty, court fees and lender fees.  These fees must be covered by the applicant and evidence of the available funds will be required as part of a mortgage application.

Once issued with your agreement in principle you are then free to engage with agents and arrange viewings on suitable properties.

For further information please read our Next generation mortgage Guernsey product guide.

Call to our friendly mortgage team on 01481 734 000 for a personal mortgage illustration and a decision in principle on how much you could borrow.